Risk in aquaculture: farmers' perceptions and management strategies in Bangladesh

This study examines Bangladesh fish farmers' perception for risk sources, risk management strategies, and the relationship with socio-demographic variables. Data were collected from a sample of 350 farmers in Bangladesh. Exploratory factor analysis of a set of perception measurement items was used to assess farmers' attitudes towards risk and their risk management strategies. The results reveal that fish-diseases, fish price variability, low quality of feed and fingerlings, flood and credit constraints were perceived as the most important sources of risk. For risk management, supply of good quality feed and fingerlings, diseases prevention, crop insurance, increasing personal savings, and assurance of bank loans were considered as the most important strategies to mitigate risks. Empirical evidence shows that farmers engage in multiple management strategies to reduce production risk.